Remarkably since then, Rwanda has enjoyed strong rates of economic growth, creating new business prospects and lifting many people out of poverty. Thanks to an efficient government actively working to develop the economy and reform the financial and business sectors, Rwandan coffee has become a very important player, contributing significantly to foreign exchange earnings and the monetization of the rural economy. In 2019, agriculture accounted for 29% of Rwanda's economy, and coffee accounted for a third of this income, with 75% of the total population working in the agricultural sector.
It is always important to remember that just 27 years ago, Rwanda was in the midst of one of the most horrible tragedies humanity has ever seen. The genocide against the Tutsi population killed almost a million people and displaced two million more. These events shook this small country and almost wiped out the entire coffee industry.
Remarkably since then, Rwanda has enjoyed strong rates of economic growth, creating new business prospects and lifting many people out of poverty. Thanks to an efficient government actively working to develop the economy and reform the financial and business sectors, Rwandan coffee has become a very important player, contributing significantly to foreign exchange earnings and the monetization of the rural economy. In 2019, agriculture accounted for 29% of Rwanda's economy, and coffee accounted for a third of this income, with 75% of the total population working in the agricultural sector.
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A supply shock is an unexpected event that suddenly changes the supply of a product or raw material, resulting in an unforeseen change in price. Supply shocks can be negative, resulting in a decrease in supply; or positive, which produces an increase in supply; however, they are often negative. Assuming that aggregate demand does not change, a negative supply shock causes the price of a product to rise, while a positive supply shock reduces it.
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